Chinese Air-Purifier Makers Surge on Pollution: Shenzhen Mover
Chinese makers of air purifiers including Gree Electric Appliances Inc. (000651), Create Technology & Science Co. (000551) and Chaoyue Group Ltd. (147) rose after pollution in Beijing reached record levels.
Gree Electric gained 3.9 percent in Shenzhen trading to a record close of 27.01 yuan and Create Technology jumped by the 10 percent daily limit to 7.34 yuan. Chaoyue Group rallied 10.5 percent to HK$0.475 as of 3:17 p.m. in Hong Kong. China’s benchmark Shanghai Composite Index increased 3.1 percent.
Official measurements of PM2.5, fine airborne particulates that pose the largest health risks, rose as high as 993 micrograms per cubic meter in the capital on Jan. 12, compared with World Health Organization guidelines of no more than 25. That was a record for the city, according to Greenpeace and the Institute of Public and Environmental Affairs.
At Parkson Retail Group Ltd. (3368)’s department store 3.5 kilometers (2.2 miles) west of Tiananmen Square, a salesman said yesterday that demand for air purifiers has tripled over the past few days as consumers snap up the equipment costing several hundred yuan to almost 10,000 yuan ($1,600).
Magic Holdings International Ltd., a maker of facial masks, gained 1.6 percent in Hong Kong.
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